OGE Energy Corp. (OGE) will raise its quarterly dividend by 1.9 percent to 41 cents per share in 2021. This comes after a 3.9 percent increase to 40.25 cents per share announced by OGE in 2020. This will mark the 15th consecutive annual dividend increase by the utility company.
The next OGE dividend will be paid October 29, 2021, to shareholders of record October 12, 2021. The new annual rate of $1.64 per share yields 4.9% to OGE Energy shareholders at a stock price of $33.53. The average dividend growth rate for OGE Energy in the last five years is 6.3 percent annually. OGE pays an estimated $328 million in dividends to shareholders annually if this new dividend hike is included.
OGE Energy Corp is the parent company of OG&E, a regulated electric utility. OGE Energy, incorporated in August 1995, is a holding company with investments in energy and energy services providers offering physical delivery and related services for both electricity and natural gas primarily in the south central U.S. with customers in Oklahoma and Western Arkansas. OGE holds 25.5 percent limited partner interest and 50 percent general partner interest in Enable Midstream Partners LP. Activities are conducted through two business segments: electric utility and natural gas midstream operations. OGE Energy and its predecessor companies have paid an uninterrupted dividend to its shareholders every year since at least 1947.